All in all, Brazil’s top banks posted an average decline of 109 percent to $18.6 billion, while Mexican banks saw their profits grow an average of 20 percent to $9 billion.

Peruvian banks saw a dramatic 84 percent jump in profits last year to $2.1 billion.

Chilean bank profits fell by an average of 628 percent to $3.1 billion, while Colombian bank profits increased an average of 11 percent to $2.6 billion and Argentina bank profits grew an average of 36 percent to $1.9 billion.